CH. 11 - Comprehensive Problem: Pacilio Security Services, Inc.; Effects of transactions on Financial Statements - 2021

I need help, it is still telling me the answer is not complete. I followed all the steps on a previous post, for this same problem, and got all the other entries covered, I assume. Except this last part Analysis.

2. Paid the balance of the payroll liabilities due for 2020 (federal income tax, FICA taxes, and 3. Issued 5,000 additional shares of the $5 par value common stock for $8 per share and 1,000 t taxes shares of $50 stated value, 5 percent cumulative preferred stock for $52 per share. 4. Purchased $500 of supplies on account. 5. Purchased 190 alarm systems at a cost of $310. Cash was paid for the purchase. 6. After numerous attempts to collect from customers, wrote off $3,670 of uncollectible accounts receivable. 7. Sold 210 alarm systems for $600 each plus sales tax of 5 percent. All sales were on account. (Be sure to compute cost of goods sold using the FIFO cost flow method.) 8. Billed $125,000 of monitoring services for the year. Credit card sales amounted to $58,000, and the credit card company charged a 4 percent fee. The remaining $67,000 were sales on account. Sales tax is not charged on this service. 9. Replenished the petty cash fund on June 30. The fund had $10 cash and receipts of $75 for yard mowing and $15 for office supplies expense. 10. Collected the amount due from the credit card company. 11. Paid the sales tax collected on $105,000 of the alarm sales 12. Collected $198,000 of accounts receivable during the year 13. Paid installers and other employees a total of $96,000 for salaries for the year. Assume the Social Security tax rate is 6 percent and the Medicare tax rate is 1.5 percent. Federal income taxes withheld amounted to $10,600. No employee exceeded $110,000 in total wages. The net salaries were paid in cash. 14. On October 1, declared a dividend on the preferred stock and a $1 per share dividend on the common stock to be paid to shareholders of record on October 15, payable on November 1, 2021 15. Paid $1,625 in warranty repairs during the year 16. On November 1, 2021, paid the dividends that had been previously declared. 17. Paid $18,500 of advertising expense during the year. 18. Paid $6,100 of utilities expense for the year 19. Paid $9,200 of the Employee Income Tax Payable, $5,280 of the FICA Tax -Soc. Sec. Tax Payable and S 1.320 of the FICA Tax-Medicare Tax Payable. Also, paid the Pay oll Tax Expense for the 7.5% employer matching of FICA taxes on $88,000 of salaries. the accounts payable 21. Paid bond interest and amorized the discount. The bond was issued in 2020 and pays interest at 6 percent 22. Paid the annual installment of $14,238 on the amortized note. The interest rate for the note percent Adjustment 23. There was $190 of supplies on hand at the end of the year Recognized the uncollectible accounts expense for the year using the allowa estimates that 1 percent of sales on account will not be collected. Recognized depreci 2018, has a five-year life and a $2,000 salvage salvage value. The building has a 40-year life and a $10,000 salvage value. The company uses straight-line for the equipment and the building. The van is fully depreciated nce method. Pacilio now ation expense on the equipment, van, and building. The equipment, purchased in value. The van has a four-year life and a $6,000 26. The alarm systems sold in transaction 7 were covered with a one-year warranty. Pacilio estimated that 27. The unemployment tax on the three employees has not been paid. Record the accrued unemployment The unemployment tax rate is 4.5 percent and gross wages for all three 28. Recognized the employer Social Security and Medicare payroll tax that has not been paid on $8,000 of the warranty cost would be 2 percent of alarm sales tax on the salaries for the year. employees exceeded $7,000 salaries expense